What Is Severance Pay? Definition and Why It's Offered
4.8 (116) In stock
![](https://www.investopedia.com/thmb/9nqsHJoTJhRS6vmQstIU3swBYbc=/1500x0/filters:no_upscale():max_bytes(150000):strip_icc()/severancepay.asp-final-32f0096580d6489aa78ad87a2dc84e6a.png)
Severance pay is compensation given to an employee who is laid off, whose job has been eliminated, or who has otherwise parted ways with a company.
![](https://www.superfastcpa.com/wp-content/uploads/2023/08/Severance-Pay.png)
What is Severance Pay?
![](http://www.mycobrahelp.com/uploads/2/6/2/8/26284626/compliance-considerations-for-employers-when-offering-post-employment-benefit-severance_orig.png)
Post- Employment Health Insurance Post-Employment Benefit Severance - CobraHelp
![](https://images.squarespace-cdn.com/content/v1/6016d296c360987af4f72310/a91ad709-1203-41a3-bd5b-283921af79f7/image-asset.jpg)
How To Negotiate a Severance Package in New York — The Fu Firm PLLC
![](https://www.investopedia.com/thmb/Jcm1NNxsK2_l_JXTVbxykAcTaok=/1500x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-1853184331-858ffdb03e9147fea750bad130a55571.jpg)
Shares Fall After E-commerce Company Lays Off 11% of Employees
![](https://imageio.forbes.com/specials-images/dam/imageserve/935646724/960x0.jpg?height=474&width=711&fit=bounds)
Severance Pay: What You Need To Know
![](https://www.investopedia.com/thmb/ad481HJBHT6Yu6cgixpcHrSWTvg=/400x250/filters:no_upscale():max_bytes(150000):strip_icc()/noncompete-agreement.asp-final-be85949b1109447cac7e26727f91527a.jpg)
Garden Leave: What It Is, Pros and Cons for Employers, Employees
![](https://www.wikihow.com/images/thumb/f/ff/Calculate-Severance-Pay-Step-2.jpg/v4-460px-Calculate-Severance-Pay-Step-2.jpg.webp)
How to Calculate Severance Pay: A Step-by-Step Guide
![](https://cdn.jwplayer.com/v2/media/17cuEfUj/poster.jpg?width=720)
What Is Unemployment? Causes, Types, and Measurement
![](https://templatelab.com/wp-content/uploads/2021/09/severance-agreement-template-23.jpg)
39 Best Severance Agreement Templates (+Examples)
Understanding Your Severance Package in BC - Taylor Janis Workplace Law
4 Ways Severance Packages Compromise Future Employment
Severance Pay When Resigning: How to Walk Out With More
What You Need to Know About Severance Pay in California - Bartz Law Group
How Does Severance Pay Work in the State of California?, by Unitedemployeelawgroup
- Buy NAIDU HALL Medium Coverage Pure Cotton Super Support Everyday Bra With All Day Comfort - Bra for Women 24490120
- 3-Pack Cotton Jockstraps Black – Papi Underwear
- Uneven Brass Tall Candlestick Holders – Le Prix Fashion & Consulting
- BetterMe Jet Black Criss Cross Front Top and Bike Shorts Sports Set for women – BetterMe Store
- Calvin Klein Women's Velour Leggings - Macy's
- VELCRO® Brand ONE-WRAP® 20mm x 330mm ties BLACK